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Philippines central bank pushes for ATM network merger

April 3, 2014

The Bangko Sentral ng Pilipinas, the Philippines apex bank, is strongly encouraging the country's three major ATM networks to consider becoming one. Greater interoperability will promote increased competition among banks and result in lower ATM fees for consumers, the BSP said.

In an article by the Manila Bulletin, BSP deputy governor Nestor A. Espenilla Jr. said he hoped a merger of networks MegaLink, Bancnet and Expressnet would take place this year.

Banks had previously planned to impose an ATM fee hike last year, but the BSP tabled the proposal pending a review of the competitive situation by the Philippines Monetary Board.

As of Dec. 31, 2013, the Philippines had a total of 14,530 ATMs nationwide. Banks added 2,079 ATMs during the course of the year, an increase of 14 percent.